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Problem 15-09 With the gasoline time series data from the given table, show the exponential smoothing forecasts using = 0.1. Week Sales (1000s of gallons)
Problem 15-09
With the gasoline time series data from the given table, show the exponential smoothing forecasts using = 0.1.
Week | Sales (1000s of gallons) |
1 | 17 |
2 | 21 |
3 | 19 |
4 | 23 |
5 | 18 |
6 | 16 |
7 | 20 |
8 | 18 |
9 | 22 |
10 | 20 |
11 | 15 |
12 | 22 |
- Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of = 0.1 or = 0.2 for the gasoline sales time series? Do not round your interim computations and round your final answers to two decimal places.
= 0.1 = 0.2 MSE - Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to two decimal places.
= 0.1 = 0.2 MAE - What are the results if MAPE is used? Do not round your interim computations and round your final answers to two decimal places.
= 0.1 = 0.2 MAPE % %
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